Real Money

Syringes Market Worth 15.99 Billion USD By 2021

According to a new market research report " Syringes Market by Usability (Sterilizable/reusable (hypodermic, oral) & Disposable Syringes (conventional, safety, prefilled)), Material (Glass & Plastic Syringes), Type (General & Specialized Syringes (insulin, tuberculin) - Global Forecast to 2021" published by MarketsandMarkets, The global market over the forecast period of 2016 to 2021. The market is expected to reach USD 15.99 Billion by 2021, at CAGR of 8.7% from 2016 to 2021.

This report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the world (RoW). Key factors such as high prevalence of chronic diseases across the globe, rising geriatric population, increasing adoption of safety syringes, technological advancements, and increasing demand for vaccines are supporting the growth of this market. However, the high cost of safety syringes and increasing incidence of needle stick injuries are the major challenges in this market.

On the basis of usability, the global Syringes Market is segmented into two broad categories, namely, sterilizable/reusable syringes and disposable syringes. The disposable Syringes Market is estimated to command the larger share of the global Syringes Market in 2016. The large share of this segment can be attributed to the increasing use of injectable as a mode of drug delivery, growing aging population, high infection risks associated with reusable syringes, and increasing inclination towards self-administration.